guide of deemed conveyance

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Welcome back, readers! 80% of the apartment holders are unaware of the fact that the deemed conveyance of the apartment can be done. It is very unlikely to believe that people from a metro city like Pune are also completely clueless about this thing. Apartments are registered under the Apartment Act 1970. Any project which has 5 or more than 5 flats brought under the Apartment Act by doing the deed of declaration and by registration of the deed of the apartment every apartment holder gets the undivided share of the land and common amenities.

Encash the benefits of MOFA Act 11;

The deed of apartment is also known as the sale deed. The number of registered apartments in the state of Maharashtra is not known exactly but it is approximately 40 thousand. On numerous occasions, builders have registered deed of declaration and registered deed of apartment for some of the flat holders of the building, and the rest of the flat holders are kept without the registration of the deed of the apartment. Due to this Apartment holders cannot incorporate their names on the 7/12 or property card. In such cases, they have an option to do deemed conveyance according to MOFA section 11. As deemed conveyance is applicable to Co-operative housing societies similarly it is to the apartment holders. Two or more apartments can file a joint application.

This article is recommended for you: Apartment Vs. Co-operative Housing Society: Which is Really better?

Benefits of deemed conveyance of Apartments

1. By doing deemed conveyance you become the owner of the land.
2. Apartment holders get benefits of increased FSI if any changes happen in the government policies.
3. The benefits can be reaped by building more by making TDR available.
4. Revenue can be generated by placing mobile towers and billboards on the building.
5. Redevelopment become easy 
6. Ownership of builders from the parking area and terrace is transferred to apartment holders. 
7. The builder cannot construct additional floors illegally.
8. The selling price increases. Property is considered indisputable. The flats were easy to sell.

You might like this blog also: दस्त नोंदणी

Be careful when buying an apartment. If you are buying a flat and the apartment is registered there, it may be more expensive and cumbersome to buy the flat if the name of the apartment holder to be purchased is not on  7/12 or the property card.

Click here for Apartment to CHS conversion.

Required documents for Deemed conveyance of Apartments:

• Application in the prescribed format,
• Deed of declaration
• Agreement
• Occupancy Certificate or Regularization Certificate or Self Declaration,
• Current 7/12 or property card
• Sanctioned plan 
• Architect certificate 
• Applicant’s self-certificate regarding the authenticity of documents, 
• Rs. 2000 / – court fee stamp or online fee

Click here for more information about Apartment conveyance.

Precautions to be taken while registering the Apartment deed:

Readers! If you have bought the flat in the apartment, Builders keep on insisting you register the apartment deed, Apartment deed must be read carefully before the registration, many of the times builders include illegal terms and conditions in the Apartment deed like ceasing ownership of the parking and open space to the builder, The entire rights to the terrace are reserved by the builder himself or the person whom they sold flats illegally, Parts of the project are reserved for certain apartments, retaining rights to future incremental floor area indices, as well as writing down rights to approve revised construction plans. Therefore, it is better to make a human transfer without registering such a deed!
Apartment culture is badly ignored in the state. The government has not rectified and done any changes to eliminate the flaws from time to time since the Apartment Act was implemented in the 1970s. As a result, the act was used by builders to harass and extort flat holders. However, in the last 2 years, due to the follow-up of the  Dear Society Welfare Association and other social organizations, good changes have been made in the Act.

Satisfactory news!
Apartment holders have been given the right to re-register Apartment deeds if their previous deed includes any illegal paragraphs or clauses. The builder has nothing left to do. Take advantage of these new improvements and get rid of the scrutiny by filing an urgently needed amendment.

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